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Lending Conditions: How Has Senor Lending Changed

Lending Conditions: How has Senior lending Changed?

While we didn’t see a big shift in Main Street valuations, market confidence remained low in this sector. Sellers received less cash at close, meaning they had to rely on additional seller financing or alternative deal structures.
And while sellers in the lower middle market benefited from a relative rebound in valuations, there too we saw an increase in earnouts and retained equity as tools to bridge the valuation gap

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